Company Registration No. 09444362 (England and Wales)
Finck Global Ltd
Unaudited accounts
for the year ended 28 February 2018
Finck Global Ltd
Unaudited accounts
Contents
Finck Global Ltd
Company Information
for the year ended 28 February 2018
Company Number
09444362 (England and Wales)
Registered Office
71A STANLEY GROVE
LONDON
SW8 3PJ
UNITED KINGDOM
Finck Global Ltd
Statement of financial position
as at
28 February 2018
Cash at bank and in hand
100,227
103,396
Creditors: amounts falling due within one year
(52,118)
(75,305)
Net current assets
65,809
56,753
Called up share capital
100
100
Profit and loss account
65,709
56,653
Shareholders' funds
65,809
56,753
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 7 June 2018.
Niki Turner
Director
Company Registration No. 09444362
Finck Global Ltd
Notes to the Accounts
for the year ended 28 February 2018
Finck Global Ltd is a private company, limited by shares, registered in England and Wales, registration number 09444362. The registered office is 71A STANLEY GROVE, LONDON, SW8 3PJ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are presented in £ sterling.
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover shown net of sales/Value Added Tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the counties where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to insignificant risk of change in value.
Finck Global Ltd
Notes to the Accounts
for the year ended 28 February 2018
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting dated. If there is an unconditional right to defer settlement for at least twelve months after the reporting dated, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Trade debtors
8,700
12,000
Accrued income and prepayments
9,000
16,662
5
Creditors: amounts falling due within one year
2018
2017
Trade creditors
6,632
5,296
Taxes and social security
42,003
42,621
Loans from directors
883
20,198
6
Average number of employees
During the year the average number of employees was 1 (2017: 1).